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New York - Citigroup profits fell 12% in the second quarter compared to the same period a year before, the bank announced Monday.
The US banking giant said it made $2.9bn for the quarter as a drop in revenues from Europe, the Middle East and North Africa restrained profits.
The strengthening of the dollar against the euro and other currencies played a role.
"Our core businesses performed well in a difficult environment and are generating solid returns," said Vikram Pandit, Citi's chief executive.
"We had strong growth in both loans and deposits, showed resilience in our markets-facing businesses, and saw record revenues in Transaction Services."
The earnings, while weaker than a year ago, beat Wall Street estimates, pushing Citigroup stocks 1.9% higher in pre-market trade.
